bitcoin mining

@lady1993 (27224)
Philippines
March 31, 2021 9:35am CST
as much as i want to earn bitcoin, i don't want to try this "mining". A friend of mine had multiple computers that did it for him and i remember he got a call once that the computers died or maybe it was the electricity/ there was fire. quite scary
9 people like this
9 responses
@allen0187 (58574)
• Philippines
31 Mar 21
Did this in the office as I have my own desktop that no one else uses. Made some cash from it.
2 people like this
@allen0187 (58574)
• Philippines
5 Apr 21
@lady1993 not anymore. Don't have the funds to build a rig and manage a mining operation. It will cost a lot.
1 person likes this
@lady1993 (27224)
• Philippines
5 Apr 21
do you still mine until now?
1 person likes this
@rakski (135052)
• Philippines
31 Mar 21
oh, did it became a big fire?
2 people like this
@lady1993 (27224)
• Philippines
5 Apr 21
I don't think so, he didn't seemed concerned.
1 person likes this
@rakski (135052)
• Philippines
5 Apr 21
@lady1993 oh okay. glad to know that
1 person likes this
@youless (112914)
• Guangzhou, China
1 Apr 21
I don't know how to do it. I don't mind my computer to mine bitcoins when it is idle
2 people like this
@lady1993 (27224)
• Philippines
5 Apr 21
I am not exactly sure how to either
1 person likes this
@stanley777 (9401)
• Philippines
1 Apr 21
Never tried this too, concerned about security.
2 people like this
@lady1993 (27224)
• Philippines
5 Apr 21
same here
@ARIES1973 (11426)
• Legaspi, Philippines
31 Mar 21
I haven't tried this activity because I don't have the needed equipment and I have a limited knowledge in so far as mining bitcoin is concerned. I earn bitcoin from free sources. I also buy when the price is low and just keep the amount in my local wallet.
2 people like this
@lady1993 (27224)
• Philippines
5 Apr 21
I play for bitcoin too. I'd probably get a decent amount after 1 year.
1 person likes this
@AkoPinay (11492)
• Philippines
1 Apr 21
Mining is only good for new cryptos. Bitcoin is no longer new.
2 people like this
@lady1993 (27224)
• Philippines
5 Apr 21
oh, thanks for sharing
1 person likes this
@prinzcy (32300)
• Malaysia
3 Apr 21
I still don't understand how this mining thingy works.
1 person likes this
@lady1993 (27224)
• Philippines
5 Apr 21
same here all i know is you need a fast computer
1 person likes this
@louievill (28849)
• Philippines
31 Mar 21
BTC mining is no longer profitable because degree of difficulty increases because of bitcoin halving, a feature that occurs every 4 years wherein miners rewards decreases. You would also be competing with other miners with very powerful and expensive asics miners. Power cost in our country would make it very unprofitable not unless you have a free source from powerful solar or wind turbines. The best option if you want to go into mining is to mine altcoins like Monero (XMR) that could still be mined using a decent cpu or gpu. Coins like monero are ASICS resistant to prevent control by a small group of miners with very powerful mining rigs, to give a chance for everybody paving a way for mass adoption. Mined altcoins like XMR could be exchanged in a coin exchange for btc or other coins later when you have a sufficient amount.
2 people like this
@lady1993 (27224)
• Philippines
5 Apr 21
wow, thanks for this helpful information.
1 person likes this
21 Jun 21
The high spec computers do need high power. If you don't have good source of supply, better avoid mining.